News & Features

Century-old bank plans digital revamp to fight fintech risk

Century-old bank plans digital revamp to fight fintech risk

The lender is working with companies including Accenture Plc, Microsoft Corp. and International Business Machines Corp. on the project, Chief Executive Officer Arthid Nanthawithaya said in an interview. The long-term goal is an app that allows customers to search and pay for entertainment options such as restaurants and cinemas, going beyond just day-to-day banking, he said.… »

UK’s Financial Conduct Authority extends partnership with Cognizant

The UK’s Financial Conduct Authority (FCA) has signed a new deal with with Cognizant, extending a business relation that started in 2011. The technology consultancy will work with the regulator to enhance core applications and improve the quality assurance process. The three year partnership agreement will expand the scope of the Cognizant’s work with the… »

StanChart Says Almost `Over Hump’ on Costly Compliance Upgrades

The London-based bank spent 60 percent of its $1 billion technology budget on compliance-related systems last year and plans a similar allocation for 2017, Chief Information Officer Michael Gorriz said in an interview in Singapore. The remainder is for other investments to improve products and services, he said. “We hope that we are over the… »

PSD2 creates a cyber risk headache for banks

A report created by banking software specialist Temenos in cooperation with The Economist Intelligence Unit shows that banks are wary of the cyber risks associated with European Union’s Payments and Services Directive (PSD2). The directive, which will come into force in 2018, forces banks to open up their APIs to third parties so that information… »

Bank code quality is below par, according to CAST app data

Bank code quality is below par, according to CAST app data

 Software coding in the financial services industry is less secure than in other industries, and also ranks lower on other benchmarks for structural quality, according to a database gathered by CAST Software, the New York-based software vendor, from its client firms. In total, the results from 1.3 billion lines of code are in the CAST… »

Cognizant partners with FSCS to provide technology services

The UK’s Financial Services Compensation Scheme (FSCS) - an independent body funded by the financial sector in order that compensates customers when firms fail  - has chosen US-headquartered IT service provider Cognizant to improve customer experience and increase efficiencies through the use of technologies. Cognizant says that over its three year engagement it will help… »

Interview: RegTech drives growth at QualiTest

Interview: RegTech drives growth at QualiTest

Ayal Zylberman started testing 25 years ago and has worked on every rung of the test ladder: from test analyst to test manager and head of quality assurance. His experience spans a number of industry verticals, including finance and the military. He founded QualiTest in 1998. At that time, most testing firms were focusing their… »

Alphabet leads investment in U.K. payments startup Currencycloud

The funding will be used for international expansion in the U.S. and elsewhere, as the company attempts to take advantage of the growing use of mobile phones to send money, according to a company statement Thursday. Similar to competitors such as San Francisco-based Stripe, Currencycloud provides the technical infrastructure that powers cross-border payments for banks and… »

Sixsentix recognised as one of Switzerland’s fastest-growing companies

Swiss software testing firm Sixsentix came third in a ranking of the 55 fastest growing Swiss companies, according to a study conducted by the Swiss papers Handelszeitung and Le Temps, together with the German market research company Statista. The firm, headquartered in Zurich, grew by an average of 187% year on year between 2012 and… »

China seen sustaining record fintech investments, Accenture says

The country’s financial-services giants will probably ramp up investments in areas including artificial intelligence, blockchain, so-called big data and cyber-security to improve their product offerings, Albert Chan, managing director of China financial services at Accenture, said in an interview last week. More money will go into technology such as robo advisors, online lending and investment&hel... »

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